Financial
Reform Bill S-3217
Colleagues,
As you know, Senator Dianne Feinstein (D-CA) introduced an
amendment recently to the Financial Reform Bill (S.3217) which
is currently on the Senate Floor. Feinstein's amendment appears
to be exactly the same as H.R. 3149, the credit check ban which
was introduced earlier this year. As Jimmie Mesis indicated in a
recent update, a hearing is scheduled in the House for tomorrow
(Wed.) morning in the Financial Institutions Subcommittee. Our
legislative advocate, Larry Sabbath, is concerned that the
hearing will be used to justify the House accepting the
Feinstein amendment to the financial services reform bill, if it
succeeds. The House supporters could then say we have a hearing
record. In the alternative, they can "mark up" H.R. 3149.
Download the "Facts
about employers use of credit checks" pdf which adopts some of the arguments from the letter
being circulated by CDIA, SHRM and the Chamber. Larry suggested
a line of questioning in the hearing to make the point that
supporters recognize the value of credit reports for some
employers, such as banks and government, but ignore others where
a crooked employee could cost an employer far more than a bank
employee could.
Please distribute as widely as possible today, to have members
of your state associations make contact with their Congressional
Representatives, and get this document in their hands.
Thanks,
Gary S. Brummond, LPI
NCISS Regional Director
RodBlytheInv@ aol.com
714/545-2227
NCISS
7501 Sparrows
Point Blvd.
Baltimore, Maryland 21219-1927
(800) 445-8408 . Fax:
(410) 388-9746
Email:
jim@nciss.org
(Permission granted to repost to other email lists and PI
association newsletters)
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